The two are wanted in connection with the deaths of seven fellow Americans in Panama, as well as two Panamanians, authorities said.

Holbert has reportedly confessed to the crimes.

Police believe the 30-year-old bodybuilder befriended the victims, shot them in the head, buried their bodies then stole their homes and businesses.

"He picked out his victims after making their acquaintance," said Angel Calderon, a prosecuting attorney, London's Guardian reports. "Knowing that nobody would ask about them, he got rid of them."

It is unclear what role Reese played in the alleged scheme.

Holbert is no stranger to law enforcement. The father of three lived in North Carolina until several years ago, when he eventually left his wife, and during a brief stint as a gym manager, met Reese. He also stole $25,000, according to The Associated Press, then sold a $200,000 house and car he didn't own and escaped police while traveling though several states.

He has allegedly posed as a doctor, and ran several scams with Reese selling property that didn't belong to them, authorities said. The two were last seen in Florida in 2006 and were featured on America's Most Wanted.

Police in Panama began investigating Holbert and Reese when two bodies were found near a home the two had lived in under false names.